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Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Average is likely to stay around USD 10,000-15,000 per day, which keeps Capesize in the unusual situation of having rates lower than the Supramax and Panamax rates that are likely to stay firm in the USD 15,000-20,000 per day. Handysize rates are in the USD 10,000-13,000 per day interval said BIMCO’s report.
Detailing its estimates, BIMCO said that “Russia is about to lift its ban on wheat exports on 1 July – a ban which has been effective since drought and wildfires affected the Russian wheat harvest in August last year. At that time, Russia was the world’s second-largest wheat exporter, with cargoes mainly going out of the Black Sea. The lifting holds the potential of supporting dry bulk freight rates in that region should a large amount of wheat get seaborne to be discharged in EU and US where bad weather conditions have already affected the forecast for this year’s harvest negatively.
Vale has now started to operate the first of its 400,000 DWT Very Large Ore Carriers as the Vale Brasil has now been delivered (10/5-2011) from Daewoo. Her maiden voyage goes from Ponta De Madeira in Brazil to the port of Dalian in China. According to the orderbook, Vale has another 7 owned VLOCs due for delivery in 2011. A total of 35 owned and chartered 400,000 DWT VLOCs will be delivered to Vale before the end of 2013. The giant bulkers will first and foremost provide fixed transportation costs (excl.bunkers) for Vale, but the impact on Capesize freight rates from the inflow of VLOCs on the important Capesize iron ore route from Brazil to Asia is likely to be of significance to the duration of the low freight rate environment in the Capesize market which is already massively oversupplied.
The worst drought in 50 years has been haunting China – impacting e.g. the hydro-electricity power plants and raising the prospect of a lack of electricity in certain regions. Recently, heavy rainfalls have changed the situation somewhat, but the extent of the counterbalancing impact is currently unknown. Coal is a natural substitute to make up for the lack of power. China receives 19% of its energy from hydropower plants. China, the world’s largest producer and consumer of coal, imports when the price difference and quality are right. Imports of coal are, however, vital to China as its own giant reserve (the world’s 3rd largest) is set to last just 38 years at the current
production level. Currently, import prices are relatively high and thus low volumes of coal go into China. The drought situation may spur higher overall demand and thus push domestic prices higher and by that potentially restart seaborne coal imports which should support the freight markets.
Whether or not the delayed lifting of the Indian iron ore export ban from Karnataka will bring about better freight markets for Supramax and Panamax remains to be seen, especially as it has to counterbalance the monsoon season, which normally dampens Indian dry bulk activity”, said Mr. Peter Sand, BIMCO’s shipping analyst.
In terms of fleet supply, Mr. Sand mentioned that the active fleet has grown by 5.2% so far in 2011, caused by delivery of 36 million DWT, offset by as much as 9.6 million DWT being demolished. The high demolition pace experienced during Q1 has stayed strong – positively impacted by firm and high demolition prices. “We have thus revised upwards our demolition estimate significantly. As 10 million DWT has already been demolished, a new but unexpected record level of demolition is set to take place in 2011. As the new building delivery forecast is only marginally higher than previously estimated, the higher rate of demolition means that the fleet is estimated to grow a tad slower at 12.9%” said Mr. Sand.
He continued by saying that “it is equally important that owners have just ordered 10.5 million DWT of new tonnage in the first 5 months. For sure the depressed freight markets are highly supportive to this trend. Should this pace of contracting activity be representative for the full year, 2011 will become the slowest year for new building contracts in 9 years. This means more trouble to the yard industry, as it struggles with a potentially very large overcapacity in coming years as yards fail to attract enough orders to run at full utilization, despite tempting owners with a slow but still ongoing slide in newbuilding prices” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
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